Harland Clarke sets roadshow for $300 million 5.5-year secured notes

By Paul A. Harris

Portland, Ore., Jan. 31 – Harland Clarke Holdings Corp. plans to start a roadshow on Wednesday for a $300 million offering of 5.5-year senior secured notes, according to a syndicate source.

The deal is set to price late in the present week.

Credit Suisse Securities (USA) LLC, BofA Merrill Lynch, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Jefferies LLC, Macquarie Capital and Eagle Hill are the joint bookrunners for the Rule 144A and Regulation S for life offering.

The notes become callable after two years at par plus 50% of the coupon and feature a two-year 35% equity clawback and a 101% poison put.

The San Antonio-based provider of media delivery, payment solutions and marketing services plans to use the proceeds to refinance its term loan B-3 and its existing senior secured notes due 2018.

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